Leading industrial and automotive supplier, Schaeffler India Limited on Tuesday announced that the Board of Directors approved the results for the first quarter, which ended March 31, 2023, the company announced through an exchange filing.
The company's revenue from operations (net) for the quarter that ended in March was Rs 1,693.62 crore, 8 per cent higher than the corresponding quarter of 2022 and 5.6 per cent lower than preceding quarter.
PBT (before exceptional items) for the quarter was at Rs 294.12 crore 6 per cent higher than the corresponding quarter of 2022. PBT margin for the quarter stood at 17.4 per cent, compared to 17.7 per cent during the corresponding quarter of 2022 and 17.2% during the preceding quarter.
Net Profit for the quarter was at Rs 219.37 crore and net profit margin stood at 13.0 per cent.
Commenting on the results, Mr. Harsha Kadam, Managing Director, said, “The automotive technologies and automotive aftermarket business registered strong YoY growth. Our balanced business portfolio and focus on operational efficiencies helped us to mitigate the external headwinds resulting in resilient margins. As we move ahead in 2023, we remain committed to continue our growth trajectory while taking cognizance of the volatility and challenges in the market environment."
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